Perhaps the most obvious impact of the trade dispute so far has been China's decision to nearly totally cut out imports of USA soybeans and energy commodities such as crude oil, coal and liquefied natural gas (LNG).
Asian stock markets opened on a high note on Monday, with Tokyo up by more than one percent and Hong Kong and Shanghai rising more than two percent.
Xi appears to have offered up non-trade measures to build goodwill in the relationship at a time of multiple converging tensions, from the South China Sea to Taiwan.
"Trade is a big deciding factor for markets because it affects profit growth, so the U.S. China's reform and opening-up's broad perspective recognizes that the rest of the world does things differently", it said in its editorial.
The United States had a $335.4 billion trade deficit with China in 2017.
China imported zero USA coal - subject to tariffs - in October, two cargoes totalling about 211,000 tons in November, and none are scheduled to arrive in December or January.
'Farmers will be a a very BIG and FAST beneficiary of our deal with China.
Oil prices also climbed sharply, with Brent crude, the global price benchmark, increasing 4.8% to $62.33 a barrel after Russian Federation and Saudi Arabia agreed to extend efforts by the Organization of the Petroleum Exporting Countries to curb production.
The tariffs were also imposed to try and force China to make changes to their economic practices, specifically the theft of U.S. intellectual property. "Farmers, I LOVE YOU!", Trump wrote.
China has agreed to "reduce and remove" tariffs below the 40% level that Beijing is now charging on United States cars, Donald Trump has claimed, amid a trade war truce agreed by the two countries.
That put US-made car brands like Tesla and Ford Motor Co's Lincoln at a major disadvantage, soon after China slashed auto import tariffs broadly to 15 percent for most vehicles.
Trump, at his political rallies and news conferences, often praises the increase in US military spending during his almost two years in the White House.
US exports of cars and light trucks to China were worth $9.5 billion in 2017 and have dropped off significantly since China imposed its retaliatory tariffs over the summer that gave exporters in Europe and Japan a significant advantage. For months, the two countries have engaged in tit-for-tat increases in tariffs on hundreds of billions of dollars of exports flowing between the two countries.
President Trump had a successful trip to the G20 summit in Buenos Aires - if by successful we mean that his behavior didn't raise the specter of imminent war or generate any other incident that cut into weekend coverage of the death of former president George H.W. Bush.
The United States agreed not to raise tariffs further on January 1, while China agreed to buy more agricultural products from US farmers immediately. "It'll have an incredibly positive impact on farming, meaning agriculture, industrial products, computers, every type of product".
According to the White House statement, the two leaders agreed to immediately begin negotiations on top USA concerns related to forced technology transfer, intellectual property and cyber theft.
The two sides announced a 90-day pause of the US-China trade war. The rate was raised by 25 percentage points in July as part of countermeasures against Washington imposing tariffs on Beijing for alleged theft of intellectual property and technology.